Last Sunday I had the pleasure of being a guest host with my friend Tom Chenault of the Tom Chenault Show. It wasn’t my first time on the show and I am glad to say it won’t be my last either. Tom and I are working together to help people achieve their goals working from home by providing them with direct mentor-ship… maybe this would be right for you.
I wanted to provide you with the recording from last weeks show and provide you with the details for this Sunday also. Regardless if you are already building a home based business or just doing research in an effort to learn how to make a full-time income from home, the radio show will provide you with a ton of actionable content and inspiration to move forward in pursuit of your dreams. (To Read the Complete Post and Listen to the recordings of the show, click on the title link above)
The Association of Network Marketing Professionals (the ANMP) is a membership association in support of distributors in the network marketing profession. Today Peter Mingils (outgoing ANMP President), and ANMP President Garrett McGrath, Rod Cook (MLM Watch Dog), Marcie Cook, Sandi Cohen, among others joined Tom Chenault on the #1 network marketing radio show today to discuss what is new with the association. (To read the complete post and listen to a recording of the interview click on the title link above)
We mixed things up a little bit last night by testing Spreecast a new web-conferencing platform with several exciting features. By all accounts and only a couple of snags the consensus is that the test was a success. I was encouraged enough to committing to using Spreecast as our platform for the foreseeable future.
The following video is a recording of last nights meeting and includes an overtime open session with James Dias owner of Internet Traffic 24/7 and Dwight Wallace owner of Traffic Jam Pro… both are traffic exchanges that I endorse. (To watch the video click on the title link above)
If you make it to the end of this blog post you will gain knowledge that will show you how to achieve success… if you take immediate action and implement what you learn, you will change your life. Successful people invest in learning and mastermind with other successful people who share common desires.
Wrapped up another Friday Worldprofit Bootcamp with George Kosch with a great appreciation for being with Worldprofit since May 2010. As I write this article I have enjoyed real profits for 28 straight months. The company is 18 years old, so it has a proven track record of success. Everyone gets giddy about new launches which I have no problem with, but what I get giddy about is quality and the value of businesses that are built to last.
If you are a regular reader of my blog you know I am a HUGE fan of the multiple income streams model and I work to master the model every day. Yes, I want to master the art of creating endless unique income streams.
My advice is that you should focus on one primary business and created automated sales funnels that create multiple congruent income steams to support a diverse and sustainable business.
I joined Worldprofit because it serves as the perfect traffic and lead generation program to support my primary business. Worldprofit is a training, traffic, and lead generation platform designed to help you leverage up any viable business you are building.
I wanted to provide another sneak peek behind the curtain to see a small part of what is available to you when you join me and my mentor-ship program in Worldprofit. In this video George Kosch reveals the core components of our system which evolves with new benefits and features every month. (Click on the Title Link above to read the complete article and watch the video)
This morning I read a short interview featuring Richard Gere, one of my favorite actors for what he stands for off screen as much as onscreen. The title of the article is “It’s Only Money… Richard Gere understands that wealth and power aren’t what’s important in life.”
I glanced at the title and agreed with the premise because at a deeper level I believe this is true; however, as I read the article with greater consideration I came to an awareness of what I believe is the whole truth. Wealth and power aren’t whats important in life unless you have neither!
For people who begin each day grateful for another night of shelter, wondering when and where their first meal of the day will come from… money and power are everything regardless if they accept it or not.
As you read this blog post you are likely not as wealthy as Richard Gere (net worth of $45 million) or as destitute as those unfortunate enough to be homeless. Therefore you find yourself somewhere in between and the ways in which money and power influence your life depends on your personal situation and how you have adapted to it. (To read the full article, click on the title link above)
The #1 topic of conversation the past two weeks on my web-conferences and forums has been the FTC, SEC, Zeek Rewards, and how to correctly evaluate business opportunity programs. I have made the comment several times that the Federal Government makes it all very clear in their rules and supporting documentation. In the end their intent is not to harm you as the entrepreneur, but rather to protect consumers and provide guidelines so that business owners remain compliant with the law.
I have previously posted articles concerning the FTC rules concerning website compliance and I certainly will continue to write on this topic in an effort to help you stay clear of the law. One of the keys to building a business that is sustainable is building it legally based on integrity within the rules and recruiting in an honest way.
I am not an attorney, so to share my opinions about the rules or offer my interpretation of the rules would provide little value for you. Therefore, I have decided to provide you with three crucial resources to help you better understand your obligations under the law.
1.) The Business Opportunity Rule Video
2.) The FTC Facts for Consumers PDF Document for immediate download
3.) A Summary of the Key Points (taken directly from the FTC)
Once you have watched the video, read both the PDF and the summary below… you will possess the knowledge to make better informed decisions about what program(s) to join and how to promote them with integrity.
Step 1. Watch the Video
The Business Opportunity Rule Overview and Key Provisions
Under the Rule, sellers have to give you a one-page disclosure document that offers five key pieces of information. Use the information in the disclosure document to fact-check what the seller tells you about the opportunity and what you find out from your own research.
The document has to:
identify the seller;
tell you about certain lawsuits or other legal actions involving the seller or its key personnel;
tell you if the seller has a cancellation or refund policy. If so, what are the terms of that policy?
say whether the seller is making an earnings claim. If so, the seller has to give you another document called an earnings claim statement; and
give you a list of references.
The Rule says that a seller has to give you the disclosure document at least seven days before you sign a contract or pay them anything. Use that time to check out the information in the disclosure document, including contacting references. Be aware that some questionable bizopp promoters have been known to name “insiders” who give glowing – but bogus – recommendations. Don’t just talk to the few people they suggest. Choose whom to contact. What if what the seller is telling you is different from what’s on the disclosure document or what you hear from another buyer? Step on the brake. An inconsistency could be a tell-tale sign of a bizopp rip-off.
In addition, the disclosure document has to be in the language the seller used to offer you the bizopp. If you discussed the deal in a language other than English, the document has to be in that language. Also, the seller has to make it clear that if you buy a business opportunity from them, your contact information will be given to prospective buyers in the future.
The earnings claim statement
What if the seller makes a claim about how much money a person can earn? Under the Rule, they have to give you a separate document that says in big type across the top: EARNINGS CLAIM STATEMENT REQUIRED BY LAW.
This document has to include:
the name of the person making the claim and the date;
the specifics of the claim;
the start and end date those earnings were achieved;
the number and percentage of people who got those results or better;
any information about those people that may differ from you – for example, the part of the country where they live; and
a statement that you can get written proof of the seller’s earning claims if you ask for it.
Since the Rule gives you the right to see written proof for the seller’s earnings claims, savvy buyers exercise that right and study those materials carefully. Compare that information to what the seller has told you about how much money people make. If the dollar amounts don’t line up, your best bet is to walk away. Like the disclosure document, the earnings claim statement has to be in the same language that the seller used to communicate with you.
The revised Business Opportunity Rule spells out that certain practices are against the law. For example:
It’s illegal for bizopp sellers to say anything that contradicts what’s in their disclosure document and earnings statement.
Under the Rule, sellers can’t claim they’re offering you a job when they’re really promoting a business opportunity.
The Rule makes it illegal for sellers to misrepresent the nature of the investment – for example, to claim they’ll help you line up locations, outlets, accounts, or customers or that you’ll have an exclusive territory if it’s not true.
The revised Rule puts new protections in place for prospective buyers. But for added protection, take the time to find out what the Rule requires of sellers. Did they give you the disclosure document with the five key pieces of information? If they made earnings claims, did they give you a separate statement with the specifics? If you spot a seller who isn’t complying with the law, it’s a red flag: You could be in the cross hairs of a bizopp scammer.
What else can you do to add an extra layer of protection? Before you buy a business opportunity:
Study the disclosure document, the earnings claim statement, and the proposed contract.
Insist on seeing proof in writing for earnings claims, including statements like “Earn up to $10,000 a month!” Phrases like “up to” aren’t a way out for the seller. It’s an earning claim and it’s your right to demand proof.
Interview current owners of the seller’s business opportunity. Ask the tough questions – like if the information in the disclosure document matches their experience with the company.
Listen to sales presentations with a critical ear. They are – of course – trying to sell you something.
If a seller doesn’t give you the information you know they have to provide, walk away.
Consider getting professional advice. Ask a lawyer, accountant, or business advisor to read the paperwork before you sign.
Check out the seller with your local consumer protection agency, state Attorney General’s Office, and the Better Business Bureau. Do a few internet searches by entering the company’s name and “complaint” or “scam.” You could get an eyeful. But be wary: No complaints doesn’t necessarily mean the company is legitimate. And scammers have been known to post phony testimonials online.
My Final Thoughts and Advice
In the end… it is your responsibility to understand the rules!
The network marketing, direct sales, and Internet Marketing professions all present a tremendous opportunity for anyone interested in creating a part-time or full-time income. In my experience, the legitimate programs require work and consistent application of daily disciplines to achieve results. There are no shortcuts, so make a commitment to yourself.
When evaluating any business opportunity engage in a disciplined approach to due diligence, make sure you know the program is compliant and set-up to provide you with a fair chance of accomplishing your goals.
Don’t be afraid to ask tough questions and require the person recruiting you to measure up to the standards you would require of any professional.
Please feel free to post a comment below and share your thoughts and questions about the FTC Business Opportunity Rules and the experiences you have had within our profession.
I am here to help you succeed, please let me know how I can make a difference and impact your life!!
(c) Copyright 2008-2012 and Beyond James A. Holmes All Rights Reserved
Contact James by phone at 303-523-9503 or email at james@AskJamesHolmes.com
Note: If you’d like to reprint this article on your blog or in your newsletter you have permission to do so as long as the copyright information and the resource box above remains with the article.
I have had the privilege to meet many of truly remarkable people during my time in the home business profession. My friendships and associations have been broad-ranging including young people with a passion for entrepreneurship, single mothers raising a family, displaced career oriented people, retirees, and insanely successful network marketing professionals.
One common factor among all of those who I have met pursuing their dreams online is that they all need leads, qualified prospects, and conversions to sells and sign-ups.
Early in my career I had a mentor who invested the time and taught me how to create and market using funded proposal systems. It was a God send!
Today, I want to share you part one of a three part training I am providing via webcast on the topic of funded proposal systems. I have titled video one “How to Create 25 Leads and Earn $25 Everyday on Auto Pilot.” Please don’t let the thought of $25 every day be self-limiting, you can add as many zeros as you wish… make it $250 or $2500 per day if your business model and mindset support it.
I believe this training will help you by providing a simple process to creating automated sales funnels that will allow you to generate leads and consistently convert sales or enrollments into your business.
Enjoy the recording: (To View the Video Please Click on the Title Link Above)
The following video is from the June 01, 2012 live training session with George Kosch, Chief Technology Officer at Worldprofit, which are held every Friday for Silver and Platinum Members. On this day the topic was traffic exchanges which included an over the shoulder overview of two great exchanges… Tezak Traffic Power and S.W.A.T. Traffic Exchange. (To watch the video please click on the title link about to be redirected to my blog)
If you earn $51,413 a year (the median income in the USA) and obtain a 5% annual raise your increase breaks down to $214.22 per month in additional income. Most people would be thrilled with this outcome and consider this increase meaningful income. Once you have mastered list building, you will be able to give yourself a raise at will in both small and large amounts daily.
Building a responsive email list is just like mining for diamonds and once you have done the work, broken through and secured your jewels you can enjoy the rewards for years to come and greatly enrich your life.
Last Saturday evening, I was spending a little time cleaning up my in box and checking the status of my affiliate promotions. I noted that I was nicely placed in second position for the JV Affiliate Contest at ‘Super Sonic Traffic’ and with a nice cash prize there for the taking… I wrote a simple email that added value for my list by introducing my list to Gary Calvert’s, new exchange along with a nice bonus. (To read the complete post click on the title link above)